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Bank guarantee

Contract between a bank as guarantor and a beneficiary in which the bank commits itself to pay a certain sum under certain, specified conditions. Thus, a demand guarantee is one in which the bank agrees to pay against the simple written demand of the beneficiary.

News On Bank guarantee
SBI, CaixaBank ink pact to fund Indo-Spanish JVs, local biz

10-06-2016| Source:PTI

As per the agreement, they will expand banks' guarantee transaction businesses by jointly providing credit to Indian-Spanish joint ventures and Indian local enterprises, SBI said in a statement.

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